Friday, June 11, 2010

All India Bank Officers Confederation demands grant of Stagnation Increment and Pension option for voluntary retirees and resigned officers.

Gen Secy. Mr Nadaf has written two letters to IBA demanding the same. Following are the text of the letters.

Letters relation stagnation increment.
No./1452/185/10                                                             09.06.2010

The Chairman,
The Indian Banks’ Association,
World Trade Centre Complex,
Centre 1, 6th Floor, Cuffe Parade,
MUMBAI – 400 005.

Dear Sir,


The extant instructions on grant of stagnation increment(s) are:

a)     Stagnation increment(s) cannot be granted to those who are reverted to previous grade/scale.

b)     Similarly, stagnation increment(s) cannot be granted to those who refuse to accept promotion to next scale/grade, after selection.

2.       We are receiving number of representations from our affiliates that, officers who remain absent in the process of selection for promotion are also denied stagnation increments, which is against the extant instructions.  In case of workmen employee, who is eligible for promotion on the basis of eligibility criteria fixed by the Bank but who does not apply for such promotion would be entitled for stagnation increments. Further, where an employee who has been called for written test and/or interview will also be entitled for stagnation increments.  However, where an offer is made by the Bank for promotion and the employee refused such promotion, he would not be entitled to such increments after such refusal.

3.       We, therefore request you to issue necessary clarifications on grant of stagnation increments, that only in case of those who refuse to accept the promotion after selection or seek reversion on promotion be denied of stagnation increment but not merely for not participating in the process for promotion.

4.       Please treat the matter as urgent.

With greetings,

                                                                                   Yours faithfully,


Letter relating Pension option for voluntary retirement/resignation.
CIRCULAR NO:91                                                         9th JUNE, 2010


          One of the issues that has been taken up by the Confederation with the IBA is to provide an opportunity to all those who left the service under resignation/voluntary retirement other than the special scheme introduced by the Bank, the benefit of the Pension Scheme, since the Pension regulations do not include these category of officers.  We have therefore sent an appropriate communication to IBA seeking relaxations in the Pension Regulations to include all such cases which come under the minimum qualifying service for Pension eligibility under the scheme.  The IBA is yet to respond.  We need to follow-up the issue together so that a large number of employees who left the banks’ services by way of resignation but have completed the minimum years of pensionable service for the purpose of Pension, as in the case of the Pension optees.
2.       We are now given to understand that some of the CPF Optees are putting in their papers for voluntary retirement without being conscious of the implications of such acts on their part although they have completed the minimum qualifying service under the Pension Regulations.  All such members are requested to await the implementation of the 2nd Option on Pension Scheme, the process of which involves, issuance of the Notification, acceptance of the offer and completion of the formalities of transfer of Provident Fund balance accumulated in their accounts as per the understandings before venturing to submit their papers presumably under the impression that they would be eligible to Pension benefit in the normal course.
3.       This communication is meant to alert all such members who are not aware of the extant provisions and may be submitting their papers under the impression that Pension will be automatically extended to them once the 2nd Option on Pension Notification is issued, since they were on the rolls of the banks on the date of signing the settlement.  It is better to await until the formalities are completed rather to take the risk of getting into technical wrangles at a later date.
4.       All our affiliates are requested to keep their members properly informed to avoid difficulties to all such members at a later date.
With greetings,


mahesh agrawal said...

pls clarify whether a member who has taken VRS in sept 2009 is entitled for second pension option or not?
What does it mean by special scheme...if a person has not resigned and taken vrs as per scheme of bank will be entitled for second pension option or not under 9th bps....what is this non sense Mr NADAF? From where you have brought this idea that the persons taken VRS till signing of joint memo is not ntitled for II option of pension under 9th bps....pls clarify...

Shridhar said...

Mr.Nadaf good thing you have taken up the matter of resigned emp for including them in pension forum.They have also worked for the banking institution and might have resigned for some or the other reason.Best of luck for the same.
Now why there is delay in implementing the 2nd option almost 50 days are over.still not started the process after it starts it will take 90 days to get regular pension.Hence i request to pursue the Govt and get it cleared earliest possible as retirees are very much eager to get it since they have waited for last 15 years or so.Let them enjoy at least for 4-5 years before they breath last.So contact govt officials/finance dept to get the clearance at once.Or is there is HITCH KICH in the matter or Govt is studying once again or are there any differences of opinion in UFBU we cant understand the things only waiting for early implementation.Pl do fast

akhilesh said...

Mr Shridhar, as I have learnt that
G. O. I. has oked officers pension
amendment but going through your comments it appears that same has not been okeyed. Please clarify.

mahesh agrawal said...

we are unable to understand the dramas and delays going on in disbursement of arrears to officers and option for pension to retired/vrs optees.whether the factor for commutation will also come in to picture because with the passnd delays going on in disbursement of arrears to officers and option for pension to retired/vrs optees.whether the factor for commutation will also come in to picture because with the passage of time the commutation will become less due to increase in age on next anniversary date of birth. can any one clarify please?
m c agrawalage of time the commutation will become less due to increase in age on next anniversary date of birth. can any one clarify please?
m c agrawal

Vinod said...

what is happening to the issue of Compassionate appointment of deceased Bank employees cases

Contact Us

Viewers may share any information with the administrator in this email
Any news, if approved, may be published in this blog under his /her name.
Related Posts with Thumbnails

Blog Archive

Bookmark This Page

Bookmark and Share
All the information published in this webpage is submitted by users or free to download on the internet. I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this page and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All the other pages you visit through the hyper links may have different privacy policies. If anybody feels that his/her data has been illegally put in this webpage, or if you are the rightful owner of any material and want it removed please email me at "" and I will remove it immediately on demand. All the other standard disclaimers also apply.